Compare and contrast the objectives of financial statements as Essay

Look into the goals of fiscal reports as illustrated by the Companies Act and Conceptual Framework - Essay Example There are numerous similitudes between the Companies Act and the Conceptual system. Both the Companies Act and the Conceptual Framework identify the duties of the top managerial staff to the overall population. Both the Companies Act and the Conceptual Framework identify the obligations of the governing body to the overall population. Both the Companies Act and the Conceptual Framework identify the obligations of the top managerial staff to the overall population. Second, Both the Companies Act and the Conceptual Framework that count the obligations of the directorate to the overall population makes it a MUST that the planning of fiscal summaries will encourage a closer connection between providers, clients and different clients of the budget summaries. Next, Both the Companies Act and the Conceptual Framework that count the duties of the governing body to the overall population makes it a MUST that the planning of budget summaries to decide whether the organization has not abused an y natural traditions that must be adhered to. Both the Companies Act and the Conceptual Framework express that the organization must endure the results of their choices that abuse the traditions that must be adhered to. Moreover, the focal point of both the Companies Act and the theoretical structure is to utilize autonomous judgment in the readiness of fiscal reports.